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Vietnam's petroleum exports and imports in first 4 months of 2024 

 Sunday, May 26,2024

AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Customs, in the first 4 months of 2024, Vietnam’s exports of petroleum reached 831,648 tonnes, worth of 700.6 million USD, up by 12.4% in volume and 9.1% in value over the same period last year.

Meanwhile, the amount of imported petroleum reached 3,697,721 tonnes, worth of 3.06 billion USD.
Main petroleum export markets in the first 4 months of 2024
According to the preliminary statistics figures of the General Department of Customs, Vietnam's petroleum exports in April of 2024 increased by 6.3% in volume and 5.8% in turnover compared to the previous month, reaching 200,720 tonnes, worth of 169.5 million USD. Overall, in the first 4 months of 2024, the exports of reached 831,648 tonnes, worth of 700.6 million USD, up by 12.4% in volume and 9.1% in value.
Cambodia was still Vietnam's largest petroleum export market. In the first 4 months of 2024, the country’s exports of petroleum to Cambodia reached 152,430 tonnes, worth of 128.4 million USD, down by 28.8% in volume and 32.3% in value compared to the same period last year, accounting for more than 18% of total export volume and turnover. In April of 2024 alone, it reached 32,668 tonnes, worth of 28.1 million USD, an increase of 5.9% in volume and an increase of 8.3% in value.
The next was the South Korean market, accounting for 10% of total volume and total turnover, reaching 83,316 tonnes, with the turnover of 75.8 million USD, an increase of 23.1% in volume and an increase of 14.7% in value. In April of 2024 alone, it reached 22,370 tonnes, worth of 20.4 million USD.
Petroleum exports to the Chinese market accounted for more than 8-9% of total volume and turnover, reaching 74,278 tonnes, the turnover reached 68.9 million USD, an increase of 41.1% in volume and an increase of 34.3% in value in the first 4 months of 2024. In April of 2024 alone, the exports increased by 42.4% in volume and 27.4% in value.
The next was the Laos market, accounting for more than 4-5% of total volume and total turnover, reaching 41,914 tonnes, with the turnover of 34.5 million USD, an increase of 67.1% in volume and an increase of 61.6% in value. In April of 2024 alone, it reached 6,098 tonnes, worth of 5.1 million USD.
And then were the Singapore, Malaysia and Thailand markets, which only accounted for a small export proportion of less than 4% of total volume and total turnover.
Vietnam's petroleum import markets in the first 4 months of 2024
According to the preliminary statistics figures of the General Department of Customs, petroleum imports to Vietnam in April of 2024 increased by 7% in volume and 8.1% in turnover compared to the previous month, reaching 1,151,975 tonnes, worth of 974.7 million USD.
In the first 4 months of 2024, the amount of imported petroleum reached 3,697,721 tonnes, worth of 3.06 billion USD, the average price was 829 USD/tonne.
Vietnam imported the most petroleum from Malaysia in the first 4 months of 2024, accounting for more than 30% of total import volume and turnover, reaching 1,132,366 tonnes, worth of 936 million USD, an increase of 126.3% in volume and value and increased by 129% in turnover compared to the same period in 2023. In April of 2024 alone, the imports of petroleum from Malaysia decreased by 21.9% in volume and 18.8% in turnover compared to March of 2024, reaching 240,475 tonnes, worth of 213.1 million USD.
The next was the South Korean market, accounting for more than 27-28% of total import volume and turnover in the first 4 months of 2024, reaching 1,062,004 tonnes, worth of 841.1 million USD, down by 15.6% in volume and decreased by 21.2% in turnover. In April of 2024 alone, the imports of petroleum from Malaysia reached 379,726 tonnes, worth of 300.1 million USD, up by 8.2% in volume and 7.4% in value.
The Singapore market followed, accounting for 26-27% of the total import volume and total turnover, up by 17.1% in volume and up by 17.9% in turnover, reaching 967,598 tonnes, worth of 832.5 million USD. In April of 2024 alone, the imports from this market increased by 24.5% in volume and 25.1% in turnover.
And then was the Chinese market, accounting for more than 11% of total import volume and turnover, up by 19.3% in volume and by 15.5% in turnover, reaching 421,381 tonnes, worth of 358.1 million USD. In April of 2024 alone, the imports from China reached 155,507 tonnes, worth of 134.3 million USD, up by 55.1% in volume and 56.4% in value.
Petroleum imports from Thailand accounted for more than 2% of total volume and total turnover in the first 4 months of 2024.
CK
Source: VITIC

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